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Board of Directors Directors

Wyrick Robbins Yates & Ponton LLP

Amendment of Section 220 of the Delaware General Corporate Law

On March 25, 2025, Delaware enacted an amendment (the “Amendment”) to Section 220 of the Delaware General Corporation Law (“DGCL”).  The Amendment clarifies what materials constitute a corporation’s “books and records.”  It...more

Cole Schotz

State of Delaware Adopts Milestone Amendments to the Delaware General Corporation Law

Cole Schotz on

On March 25, 2025, significant amendments to the General Corporation Law of the State of Delaware (the DGCL), intended to provide greater certainty to transaction planners in light of recent Delaware case law developments,...more

Mayer Brown

Delaware Law Alert: Which Officers and Employees Have Advancement Rights?

Mayer Brown on

In a notable opinion that impacts how Delaware corporations consider advancement of litigation expenses to their officers and employees, the Delaware Chancery Court signaled that, when corporations grant a right to...more

Allen Matkins

The Uncertainty Of Officer Appointments In California LLCs

Allen Matkins on

The California Revised Uniform Limited Liability Company Act, Cal. Corp. Code § 17701.01 et seq., clearly authorizes the appointment of officers...more

Alston & Bird

Delaware’s Corporations Law Council Weighs In on Proposed DGCL Amendments

Alston & Bird on

Our Securities Litigation and Securities Groups review revisions proposed by the Delaware State Bar Association’s Corporation Law Council to a Delaware bill (SB 21) that would significantly impact the state’s statutory...more

Goodwin

Six Considerations for Directors Navigating Distressed M&A

Goodwin on

Directors’ decisions face intense scrutiny during times of financial distress. A structured approach can protect stakeholder value and minimize liability....more

Cadwalader, Wickersham & Taft LLP

Legislation Proposed to Amend the Delaware General Corporation Law

On February 17, 2025, a bipartisan coalition of Delaware lawmakers and the Governor proposed legislation that would, if enacted, address issues raised by recent Delaware judicial opinions and reincorporations by high-profile...more

Fenwick & West LLP

Delaware Proposes Significant Amendments to the Delaware General Corporation Law

Fenwick & West LLP on

On February 17, 2025, Senate Bill No. 21 was introduced in the Delaware State Senate to amend the Delaware General Corporation Law (DGCL)....more

Skadden, Arps, Slate, Meagher & Flom LLP

How Best To Measure Your Board’s Effectiveness: FAQs

Key Points - - Board self-assessment processes aimed at improving board performance, composition, culture and processes are common but vary widely in how they are conducted and who is assessed. - Most S&P 500 companies...more

Allen Matkins

Nevada Bill Would Impose A Duty That Directors Be Informed

Allen Matkins on

As I and others have pointed out, Nevada leans heavily on its statutes when it comes to corporate governance.  Currently, NRS 78.135 provides...more

Wilson Sonsini Goodrich & Rosati

Delaware Legislators and Governor Propose Landmark Legislation

On February 17, 2025, Delaware’s legislative leaders and Governor announced landmark legislation and initiatives that would, if enacted into law, result in welcome and much-needed amendments to Delaware corporate law to...more

McCarter & English, LLP

Delaware Court Holds Settlement of Underlying Securities Litigation Is Covered Under D&O Policy, Rejecting Insurers’ Assertion of...

A Delaware court recently found for the policyholders in determining that a directors and officers (D&O) liability policy covered the settlement of an underlying action alleging violations of the Securities Exchange Act of...more

Fenwick & West LLP

BlackRock’s 2025 U.S. Proxy Voting Guidelines

Fenwick & West LLP on

In December 2024, BlackRock released its updated U.S. proxy voting guidelines for benchmark policies. The changes will become effective as of January 2025. ...more

McCarter & English, LLP

How Companies Can Prepare for the New HSR Filing Requirements

McCarter & English, LLP on

As the February 10, 2025, implementation deadline for the new Hart-Scott-Rodino (HSR) filing forms and instructions rapidly approaches, companies that are considering acquisitions or mergers, whether as a buyer or seller,...more

Goodwin

For Directors Setting up a Competing Business, What Is a Step Too Far?

Goodwin on

At what point do the steps a director takes to establish a competing business before resigning become unlawful? In the recent case of Cheshire Estate & Legal Ltd v Blanchfield & Ors, the Court of Appeal considered whether two...more

Wilson Sonsini Goodrich & Rosati

Managing “Board”-dom: Transatlantic Companies and Non-Executive Directors

Directors can play a key role in the success of start-ups and scale-ups in both the UK and the U.S. However, differences between legal frameworks and governance norms, as well as the experience and approach applied by...more

Bennett Jones LLP

Ontario Superior Court Rules That Section 99 of the Ontario Business Corporations Act Does Not Confer

Bennett Jones LLP on

In OneMove Capital Corporation v Dye & Durham Limited, 2024 ONSC 5114 (OneMove), Justice Penny of the Commercial List division of  the Ontario Superior Court concluded that shareholders may not submit a proposal under s. 99...more

BCLP

Why Can’t We Be Friends?

BCLP on

Recently, the SEC announced settled charges against a former chairman/CEO and director of Church & Dwight Co. Inc., for violating proxy disclosure rules by standing for election as an independent director without informing...more

Venable LLP

Indemnification Agreements under Maryland Law: Additional Protection for Directors and Officers

Venable LLP on

As scrutiny of public companies continues to increase, it is important for directors and officers to understand the full range of protections from personal liability available to them and for a company to be cognizant of its...more

Allen Matkins

Is A Notitia Congregationis Valid In California?

Allen Matkins on

California is a very linguistically diverse state with an estimated 200 plus different languages being spoken.  Within my own family, English is not the primary language spoken at home by any of my grandchildren.  Yet, the...more

Allen Matkins

Directors Removing Directors

Allen Matkins on

Seven years ago, I addressed the question of whether the board of directors of a California corporation could remove a fellow director...more

Conyers

Cayman Islands Restructuring: Obtaining Consent in a Crisis

Conyers on

Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable. We are often engaged to assist creditors,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Preparing Now for the SEC’s New Climate Rules

On March 6, 2024, the SEC adopted new rules mandating climate-related disclosures in public companies’ annual reports and registration statements. As anticipated, the rules are facing multiple legal challenges, which have...more

Morris James LLP

Superior Court Dismisses Aiding and Abetting Claim Against Officers

Morris James LLP on

RGIS International Transition Holdco LLC v. Retail Services WIS Corp., C.A. No. N21C-12-077 (Del. Super. February 13, 2024) - Under Delaware law, a corporation generally cannot conspire with its own officers, directors, or...more

Conyers

Directors’ Duties – Two Stage Test for the Creditor Duty

Conyers on

We have published a series of articles dealing with directors’ duties in the zone of insolvency. In previous briefings, we have written about the high-profile UK Supreme Court ruling in Sequana and the New Zealand Supreme...more

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